is not powerful now as a big u.s. debt holder china will for sure be affected. >> reporter: in australia, too. >> makes it much more expensive for tourists to visit australia. those parts of our economy exposed to the tourist sector, we've spent a lot of money promoting australia overseas, are not going to benefit so greatly from that. >> reporter: in tokyo some economic experts see history repeating itself. they compared the current u.s. debt crisis to japan's crippling recession of the 1990s. >> it's exact replay of what we went through in japan 10, 15 years ago. >> reporter: however the debate plays out in washington, experts say the financial ripples will be felt around the world. >> it's an issue that really is lurking in the background of each and every economy of the world. >> reporter: jonathan man reporting. >> seven minutes past the hour. the politics of a deadline deal, anybody going to come out of this looking good? does it matter at this point? maria and lenny always looking good. we'll see if they sound